ConfidentialJune 2015

Final Results 2014 Presentation

Scott McGregor, CEOJonathan Marren, CFO

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Highlights FY 2014 & 2015 Progress

• REDT – Liquid Energy Storage– Jabil global manufacturing agreement for volume sales– Focus on production of market seeding units and Gigha system– Product segments identified - marketing efforts focused– Continuing efforts on cost down initiatives

• Africa– GAP mandate c£120m fund - a key win providing platform for transition to higher margin business– Profitable in 2nd half of year– Confident of winning other complementary mandate to start this year – key focus– Channel to market for REDT product

• US– Twin Falls facility successfully integrated and producing together with Jerome facility– Exploring strategic alternatives for this business to bring value to the Company– Post results structured sale of carbon portfolio, first stage closed for $1.74m upfront and $0.5m

deferred; further close to follow

• CCE loss halved to €1.9m ahead of management expectations (2013: loss €3.8m)– Reduced administration expenses of €7.1m (2013: €9.3m)

• 42% reduction in central overheads (including opex focused on REDT interest)

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REDT Customer Proposition

• A storage system need not be confined to a cell

• A storage system can never go flat

• A storage system can last over a quarter of a century

• You can size storage to your exact requirements

• Storage can increase your FIT payment

• You can get paid for multiple storage services at thesame time

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Lithium-IonLithium-Ion

Fuel cellsFuel cells

Pumped-hydro/CAES

Lead-AcidLead-Acid

1 GW

100 MW

10 MW

1 MW

100 kW

10 kW

1 kW

Seconds Minutes 1-2 hours 3-12 hours Day Month

Duration

Power

Flywheels

Mature

DeploymentDeployment

Demonstration

UPS

Efficiency range

Fuel Cells 25-45%

Lithium 85-90%

Lead Acid 60-80%

Fly Wheel 70-95%

Comp Air 40-75%

REDT Flow Batt 75%

Pump Hyd 70-85%

REDT Flow BatteryREDT Flow Battery

Grid RE

DomesticRE

CommercialRE

GridStorage

GridServices

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Validation

30kWh Energy StoragePilot Unit

• Operating since 2012• No degradation/capacity fade• Equates to predictable life of over

10,000 cycles

REDT 60kWh Energy Storage PVCrops system, Portugal

REDT 1.68MWh Energy Storage Isleof Gigha system, Scotland

REDT 240kWh Energy Storage EcoLodge system, South Africa

• Operating since 2013• >80% charge/discharge efficiency

• Due for installation 2015• Jabil manufactured – commercial

product• Utility scale version

• Due for installation 2015• Jabil manufactured –

commercial product• Smaller scale version

Ten 40kWh “Market Seeding” unitsTo be delivered and installed to customers focus segment across the world in 2015

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2015 focus - deliver Jabil commodity manufactured units across product segments– Key market segments seeded with product– Prove systems with strong brand customers– Industry accessible testing sites– Key customers with high volume follow on demand– Technically prove functionality in regions– Technically prove functionality in applications (wind, solar, diesel, on-grid, off-grid)

REDT Market Seeding Deliveries

Market Seeding Units

10 units 40 kWh

1 unit 240 kWh

1 unit 1.68 MWh

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2015 Plan - Market Seeding Deliveries

Isle of Gigha1.68 MWh

Wind & Grid constrained

Johanesburg240kWh

PV+Diesel+weakgrid

Africa40kWh telco40kWh telco

40kWh ecolodge

UK40kWh Wokingham

40kWh Dairy PV+grid40KWh Wind + grid

Europe40kWh Utility trial40kWh Utility trial

SE Asia40kWh telco

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– 1.68 MWh Isle of Gigha system– Ten 40 kWh market seeding units– Stacks built and tested, parts ordered and production line

Jabil production well underway

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Product Segments

Segment Product Market access Key drivers 2015(Indicative)

MarketSize

Potential longterm annual

sales

ProductsTelecommunication 4-20kWh Market seeding units

for extensive trials andbuild follow on

interest. LT direct andthrough integrators

Costimprovementover lead acid

Implement3 MS units

1m units to2020 $10.5bn

10,000 units

Diesel gensetcoupling

45-240kWh PV + Storage + Genset= Energy solution

Quality lowercost energy

Implement2MS units

100k units to2020

$1.2bn p. a.

2,000 units

Small grid tiedrenewables

5-40kWH Eco & autonomyfocused solution –

subsidies

Independentenergy & eco

Implement3MS

160GW by2030

$10bn p.a.From 2020

2,000 units

Large grid tiedrenewables

60-240kWh Smart grid & fundedprojects

Constraint Gigha 1,000 units

Utilities MW+60-240kWh

strings

Technology evaluation Target <$500cost per kWh,initial R&Dthen policydriven

Implement2MS

1,000 units

Multi product segment direct sales approach until sector is hooked/provenupon which we focus in and ramp up that sector through distribution channels.

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FY 2014 Financials

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H1 2014 H2 2014 FY 2014 FY 2013

€'000 €'000 €'000 €'000

Revenue 4,843 5,105 9,948 12,305Cost of sales (2,351) (2,557) (4,908) (5,336)

2,492 2,548 5,040 6,969

Other Income 139 150 289 276Admin expenses (2,797) (3,129) (5,926) (7,891)Depreciation (504) (559) (1,063) (1,097)Share based payments (55) (55) (110) (359)Impairment 0 0 0 (202)Restructuring Charges 0 0 0 (783)Gain on disposal of Camco South East Asia 0 0 0 547Other gains on disposals 84 0 84 830Results from operating activities (641) (1,045) (1,686) (1,710)

Net Financing expenses (363) (132) (495) (1,278)

Share of loss - Camco South East Asia 0 0 0 (547)Share of gain/loss - REDH 36 (162) (126) (56)Share of loss - other 0Loss before tax (968) (1,339) (2,307) (3,591)

Tax 46 78 124 (84)

Loss from continuing operations (922) (1,261) (2,183) (3,675)

Discontinued operations 0 0 0 (72)FX on translation of foreign operations 8 325 333 (95)

(914) (936) (1,850) (3,842)

Income statement

FY 2014 FY 2013

€'000

Interest on US Biogas Facility debt (767) (777)FX 250 (439)Other 22 (62)

(495) (1,278)

Finance Expense

FY2014

FY2013

FY2014

FY2013

FY2014

FY2013

€'000 €'000 €'000 €'000 €'000 €'000

US Activities 5,317 3,263 (2,524) (1,515) 2,793 1,748Africa Activities 1,820 2,929 (650) (1,581) 1,170 1,348REDH 237 61 0 0 237 61Other 2,574 6,052 (1,734) (2,240) 840 3,812

9,948 12,305 (4,908) (5,336) 5,040 6,969

Cost of sales Gross MarginRevenue

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€'000

Jerome Facility 14,446Twin Falls Facility 2,128Other 39

16,613

€'000 €'000 €'000 €'000

PPE 14,446 2,128Accrued Income 731 217Cash 959 185Other 670 179

16,806 2,709

Deferred Income (CL) (313)Deferred Income (LTL) (4,251)

(4,564) 0Debt (CL) (287) (97)Debt (LTL) (11,243) (504)

(11,530) (601)Other Liabilities (316) (95)

(16,410) (696)

Net Assets 396 2,013

PPE

Jerome

Total of Jerome & Twin falls on B/S: € 2.41 m

Twin Falls

FY 2014 FY 2013

€'000 €'000Fixed AssetsPPE 16,613 15,581Intangible assets 0 0Investment in REDH 2,533 2,576Other 109 32

19,255 18,189Current AssetsPrepayments & Accured Income 1,896 1,452Trade & Other Receivables 1,591 1,368Cash & Cash Equivalents 4,057 4,472

7,544 7,292

Total Assets 26,799 25,481

Current LiabilitiesLoans & Borrowings (384) (492)Trade & Other Payables (3,711) (4,162)Deferred Income (US Grant) (313) (276)Deferred Income (other) (44) (158)Other (186) (239)

(4,638) (5,327)Non-Current LiabilitiesLoans & Borrowings (11,747) (9,884)Deferred Income (US Grant) (4,251) (4,024)

(15,998) (13,908)

Net Assets 6,163 6,246

Balance Sheet

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FY 2014 FY2013

€'000 €'000

Loss for the period (2,183) (3,747)

Depreciation 1,063 1,097Deferred income amortization (313) (276)Share based payment charge 110 359Finance cost 745 839REDH (Gain)/Loss 126 56Gain on asset sales (84) (830)Restructuring charge 0 783Tax (124) 56FX 113 229Impairment 60 202Discontinued operations 72

Operating flows before working capital (487) (1,160)

Decrease in intangible assets 0 313Decrease in prepayments (302) 103Decrease/(increase) in trade/other receivables (284) (154)Change in net carbon balance accruals (514) (5,733)Decrease in accrued income (non carbon) (274) (447)Increase in trade and other payables 81 2,591

Cash generated by operations (1,780) (4,487)

FY 2014 FY 2013

€'000 €'000

Cash generated by operations (1,780) (4,487)

Tax Paid 0 0

Disposals 84 5,526Acquisitions (31) (1,973)Loan to REDH 0 (200)

53 3,353

Share issues 1,657 259Proceeds from new loan 625Net borrowing repayments (260) (4,711)Net Interest (745) (839)

1,277 (5,291)

FX Movements 35 (190)

Movement in cash (415) (6,615)

Cash at beginning of period 4,472 11,087

Cash at end of period 4,057 4,472

Cash Flow Statement

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• Activity transitioning towards higher margin business – revenue earned from GAP inH2 2014

• Lower level of revenue from core consulting activity in FY 2014; focus on highermargin activity

• Focus on reducing costs and increasing gross margins to continue

Africa Activities

Africa Activity H1 2014 H2 2014 FY 2014 H1 2013 H2 2013 FY 2013

€'000 €'000 €'000 €'000 €'000 €'000

Revenue 808 1,012 1,820 1,729 1,200 2,929Cost of sales (328) (322) (650) (851) (730) (1,581)Gross Margin 480 690 1,170 878 470 1,348

Admin expenses (ex Fund Platform) (559) (504) (1,063) (730) (545) (1,275)Admin expenses re Fund Platform (95) (172) (267) 0 0 0

(654) (676) (1,330) (730) (545) (1,275)

Segmental result (174) 14 (160) 148 (75) 73

Camco Clean Energy – Passionate about clean energy and reducing emissions for a sustainable future 17

• Gross margin fromlegacy carbonbusiness of €840k– Majority from

‘hibernated’ Chinacarbon business;not a long termincome stream

– Margin from EU ETSComplianceServices coveringassociated opexand allowing teamto deliver marginalrevenue to supportwider Groupactivities

• Admin expensesreduced (see nextpage)

Other Activities (Inc REDH(CCE))

Group (Other) H1 2014 H2 2014 FY 2014 H1 2013 H2 2013 FY 2013

€'000 €'000 €'000 €'000 €'000 €'000

Revenue 1,611 963 2,574 1,831 4,221 6,052Cost of sales (872) (862) (1,734) (1,266) (974) (2,240)Gross Margin 739 101 840 565 3,247 3,812

Admin expenses (858) (1,271) (2,129) (2,613) (2,385) (4,998)Restructuring charges (783) (783)

(858) (1,271) (2,129) (2,613) (3,168) (5,781)

Segmental result (119) (1,170) (1,289) (2,048) 79 (1,969)

REDH (CCE) H1 2014 H2 2014 FY 2014 H1 2013 H2 2013 FY 2013

€'000 €'000 €'000 €'000 €'000 €'000

Revenue 25 212 237 31 30 61Cost of sales 0 0 0 0 0 0Gross Margin 25 212 237 31 30 61

Admin expenses (451) (252) (703) (24) (22) (46)Restructuring charges

(451) (252) (703) (24) (22) (46)

Segmental result (426) (40) (466) 7 8 15

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• CCE costs associated with running REDT business allocated out (from Other (Group))in 2014

• 42% reduction in Other (Group) & REDT(CCE); reduction across other non-biogasareas

• Share based payment charge equally spread over 2014 (final charge)

Admin Expenses

€'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000Share based payments 55 55 110 0 359 359Depreciation 504 559 1,063 648 449 1,097Restructuring Charges 0 0 0 0 783 783Impairment 0 0 0 0 202 202One off/non cash 559 614 1,173 648 1,793 2,441

Jerome/Twin Falls (from 2014) 154 272 426 104 142 246US (exc Jerome & Twin Falls) 702 690 1,392 887 677 1,564Africa Consulting 552 496 1,048 730 545 1,275Africa Fund Platform 95 172 267 n/a n/a n/aREDT (CCE) 451 252 703 n/a n/a n/aOther (Group) 843 1,247 2,090 2,451 2,355 4,806

2,797 3,129 5,926 4,172 3,719 7,891

Total 3,356 3,743 7,099 4,820 5,512 10,332

H1 2014 H1 2013 H2 2013 FY 2013H2 2014 FY 2014

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Conclusion

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Conclusion

Strategic position of businesses exceeded upper end of our expectations

• REDT – new tech– Technology proven– Low cost production underway– Large pipeline of customer interests

• Africa– Advisory and finance platform cash contributing to CCE– Growth opportunities with further mandates

• US– Biogas assets cash contributing to CCE– Carbon business cash contributing to CCE

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Appendix

Camco Clean Energy – Passionate about clean energy and reducing emissions for a sustainable future 22

Vanadium Redox Flow Batteries – market ready

• Long life - 20 + years, safe– >10,000 cycles without significant

degradation– Electrolyte reusable (no life cycle

issues)– Non flammable, non explosive

• Performance– Handles very frequent shallow or deep

cycles (ideal for wind application)– Handles deep discharge without

degradation (ideal for PV application)– Charge retention: close to 100% on

standby– 75-85% round trip efficiency

• Low cost– Modular from 5kW multiples to MW– Electrolyte is added to increase

duration– Low maintenance